Ola Electric receives Rs 73.74 Cr under PLI-Auto scheme

Q: How long will it take to read this news story?

The story "Ola Electric receives Rs 73.74 Cr under PLI-Auto scheme" has 265 words across 18 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Ola Electric receives Rs 73.74 Cr under PLI-Auto scheme" was covered 14 hours ago by YourStory, a news publisher based in India.

Q: How trustworthy is 'YourStory' news outlet?

YourStory is a fully independent (privately-owned) news outlet established in 2008 that covers mostly startups, economy, and business news. The outlet is headquartered in India and publishes an average of 13 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #26691318</li><li>URL: https://beamstart.com/news/ola-electric-receives-rs-7374-17412448906910</li></ul>

YourStory Logo YourStory 14h ago

Ola Electric receives Rs 73.74 Cr under PLI-Auto scheme - YourStory

Quick Summary:

Ola Electric received a sanction order from the Ministry of Heavy Industries, which pertains to the release of the demand incentive to IFCI Limited for disbursement of the incentive claim.

Additionally, in February, the company eliminated regional warehouses across the country and said it would leverage its network of 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries.(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.

This is the company’s second round of layoffs after it let go of 500 employees in November last year.